Pandora sees 11% organic growth in Q3, raises guidance

From GlobeNewswire: 2024-11-06 01:30:00

Pandora’s Q3 2024 financial highlights show 11% organic growth, with key markets in Europe at 4%, the US at 6%, and double-digit growth in the Rest of Pandora. The Q3 gross margin reached 80.1% and EBIT margin remained solid at 16.1%. Leverage is low at NIBD/EBITDA of 1.5x.

Implementing its Phoenix strategy, Pandora is investing in brand, design, markets, and personalization. The PANDORA ESSENCE collection drove revenue of DKK 169 million, while personalization services like engraving grew over 100% in Q3 2024. Higher commodity prices pose a 360bp headwind to the 2026 EBIT margin target.

Pandora lifts its organic growth guidance to 11-12% for 2024, with an unchanged EBIT margin guidance of around 25%. Current trading in October saw mid-single-digit LFL growth. CEO Alexander Lacik is pleased with the strong results, emphasizing the brand’s transformation and growth initiatives.



Read more at GlobeNewswire:: Pandora delivers 11% organic growth in Q3